PD Strategies Blog

PD Strategies Blog

Performance and Development Strategies Blog is the informational place to get timely and purposeful articles on the issues that concern you most.

DO YOU HAVE A BUSINESS OR A HOBBY?

DO YOU HAVE A BUSINESS OR A HOBBY?
Can you go on a vacation and unplug totally without worrying about what will happen in your business? If your business cannot properly function when you are not there, then you don’t have a business but rather, you have a hobby. This is not a bad thing because this may be your business goal. There is nothing wrong with being solo so don’t worry if that is what you want. However, if you want to take your business to the next level you need to have systems in place that are easily followed by others. Does your business survive due to external dynamics and timing but will become stagnant when you are not there? In this case you might feel like you are a hamster on a wheel. There is a lack of entrepreneurial leadership. As an example, in the restaurant industry there are numerous great cooks and chefs that feel...
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DO YOU HAVE GROUNDHOG DAY AT YOUR BUSINESS?

DO YOU HAVE GROUNDHOG DAY AT YOUR BUSINESS?
I remember seeing the movie Ground Hog Day and thinking how hilarious it was to wake up every day and repeat the previous day over. We would not want that life but how many of us have Ground Hog Day at our business? How many of us get up in the morning when the alarm rings, go to the office, go through emails, catch up on uncompleted work, start the day’s work, take phone calls, try to meet the day’s deadlines, go home, tell everyone what a busy day we had, go to bed, get up in the morning when the alarm rings……   Like Bill Murray in the movie, have you come to the realization that you are doomed to do the same thing every day? Break the cycle! As I have mentioned before, when this lack of purpose happens, you are working IN your business rather than ON your business....
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CAN MY BUSINESS SURVIVE WHEN I AM NOT THERE?

CAN MY BUSINESS SURVIVE WHEN I AM NOT THERE?
If your business will not survive when you are not around, then you do not have a business. You have a hobby. I recently had a client company mention to me that the owner had taken some time off and during that time sales dropped off substantially. A business is certainly not sustainable if it collapses as soon as the owner leaves. Such a business will never be able to get passed on or sold. Does this sound familiar? If it does here is the cause of the problem. The business owner wants to have growth and stability but does not trust his or her employees. The solution will lie in the owner becoming a leader who trains, develops, empowers, and delegates with confidence. It is important to have the right people doing the right jobs. Start by having job descriptions for everyone. Make sure that every staff member is qualified...
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MAKE 2018 THE BEST YEAR IN YOUR WESTCHESTER NEW YORK BUSINESS

MAKE 2018 THE BEST YEAR IN YOUR WESTCHESTER NEW YORK BUSINESS
We are working with business owners in Westchester County who are working on making their businesses more successful. These businesses define success through their vision, their values, and goals. Then to stay on top of their business they monitor and measure results. Once you set your goals you need to make sure you are on track. You would not take a cross country car trip without using your GPS to make sure you are on track. So similarly, if you want to have a sustainable business you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. That, however,...
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IF YOU CAN’T MEASURE IT YOU CAN’T MANAGE IT

IF YOU CAN’T MEASURE IT YOU CAN’T MANAGE IT
Another thought this time of year when we are working on our business plans for the next year.   We need to have clear objectives and goals.   You may have heard the expression, “If you can’t measure it you can’t manage it” Well, if you want to have a sustainable business you need to have a strategic plan, which includes those goals and objectives, and a way to measure your progress.   Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it.   For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit.   That, however, is a measure of what has happened in the past.   It may not predict what will happen in the future. Using measurements that predict whether you are...
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CAN YOUR BUSINESS RUN WITHOUT YOU?

CAN YOUR BUSINESS RUN WITHOUT YOU?
If you do not have a business where you can walk away when you want, then you don’t have a business but rather, you have a hobby. This is not a bad thing because this may be your business goal. You may wish to work solo. For the rest of you, you might want to read further. Does your business survive due to external dynamics and timing but will become stagnant when you are not there? In this case you might feel like you are a hamster on a wheel. There is a lack of entrepreneurial leadership. As an example, in the restaurant industry there are numerous great cooks and chefs that feel that because they know how to create a great meal. They decide to open their own restaurant. The restaurant might open and have sales but the owner might be so consumed with the food details that he might...
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EMPOWERMENT WILL LEAD TO A SUSTAINABLE BUSINESS

EMPOWERMENT WILL LEAD TO A SUSTAINABLE BUSINESS
Exercising strong control rarely leads to better performance. In fact, being a control freak insures that nothing can get done without your involvement. If you want to have a growing business too much control is not the way to achieve it. Many of my business owners in Westchester County New York have learned the importance of delegation to business growth. Once you decide to add just one new employee your main job is not control but getting others to do what needs to be done. If you don’t let go, you will be seen as a micro manager. This will actually de motivate your team and guarantee that you will do everything yourself. Why is this problematic? Let me ask another question. Why did you hire another person to begin with? The answer is that you wanted to be able to grow your business. But if you don’t get out of...
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ARE YOU WORKING ON YOUR BUSINESS?

ARE YOU WORKING ON YOUR BUSINESS?
As a business owner do you sometimes feel like you are a hamster running on a wheel. That is because are working IN your business, chasing every detail and putting out every fire. This is natural because it is what you first did as you started your business. You know how to run the business but that does not mean you are managing it. When you stop working does the business stop? If this is the case, then there is a lack of entrepreneurial leadership. For example, in the restaurant industry there are numerous great cooks and chefs that feel that because they know how to create a great meal that that they should open a restaurant. The restaurant might open and have sales but the owner might be so consumed with the food details that he might neglect other parts of the business. In most cases the business stops when...
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A SUSTAINABLE ORGANIZATION HAS ALIGNED LEADERSHIP

A SUSTAINABLE ORGANIZATION HAS ALIGNED LEADERSHIP
A sustainable organization is a healthy organization. A healthy organization is in alignment. Organizations that are in alignment are sustainable, innovative, customer responsive, and proactive. How healthy is your organization? Are your employees working in their own individual silos or is everyone in sync with the goals of the organization? Organizations working in silos are often faced with many challenges. And these silos often cause a rippling effect throughout the entire organization. That rippling effect has a negative impact on the entire business including loyal customer base and business results. Ask if these elements of your business are in alignment. Strategy – What’s your game plan for the next 18-24 months? How has your organization defined success: where do you want to go, what do you want to accomplish, and how are you going to make that happen? How will you measure it? A key to accomplishing your strategy is that...
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HOW DO YOU MEASURE SUCCESS IN YOUR WESTCHESTER NY BUSINESS?

HOW DO YOU MEASURE SUCCESS IN YOUR WESTCHESTER NY BUSINESS?
I work with numerous business owners in Westchester County who are working on making their businesses more successful. These businesses define success through their vision, their values, and goals. Then to stay on top of their business they monitor and measure results. You may have heard the expression, “If you can’t measure it you can’t manage it” Well, if you want to have a sustainable business you need to have a strategic plan, goals and objectives, and a way to measure your progress. Without these elements you are relying solely on luck. What you measure is just as important as having and plan and executing it. For example, many business owners are familiar with the acronym EBITDA (earnings before interest, taxes, depreciation, and amortization), or more simply said profit. That, however, is a measure of what has happened in the past. It may not predict what will happen in the future....
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CAN MY WESTCHESTER COUNTY NY BUSINESS RUN WHEN I AM NOT THERE?

CAN MY WESTCHESTER COUNTY NY BUSINESS RUN WHEN I AM NOT THERE?
“I recently had to take some time off and during my absence the company did not have enough sales to even cover our overhead.” A Westchester County NY business owner relayed this situation to me. She was frustrated. “My business needs to operate when I am not there,” she said, “but at this time I am afraid to take a day off.” If you are a Westchester County NY business owner and this sounds familiar you should know that it is a common problem. As business owner you want sales growth and business stability but don't feel your employees can get it done. Your solution will lie in becoming a leader who trains, develops, empowers, and delegates with confidence. It is important to have the right people doing the right jobs. So start by having job descriptions for everyone. Make sure that every staff member is qualified for the job. Find...
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IS THIS BUSINESS SUSTAINABLE?

IS THIS BUSINESS SUSTAINABLE?
If someone were to ask you if you have a sustainable business would you know how to answer? There is no clear answer to this question. Sustainability means different things to different companies as well as industries. Sustainability really started with the whole concept of being green, becoming more environmentally friendly, and paying more attention to conserving our planet’s resources. However, sustainability has become much more than that. Sustainability has become a viable business strategy which takes into account the economic considerations for business sustainability, governmental issues, and opinions from customers and stakeholders. Where did the term sustainability come from? The term sustainability actually emerged in the 1987 report by United Nation’s World Commission on Environment and Development. The report simply defined sustainability as follows: to meet the needs of the present without compromising the ability of future generations to meet their own needs. No matter how a business defines sustainability...
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